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SGLY agrees to pay $5.8M to settle securities class action; shareholders approve share increase to 50 billion and reverse split authority
SGLYSingularity Future Technology Ltd.
On June 22, 2026, the company entered into an Amended Stipulation and Agreement of Settlement to resolve a securities class action (Crivellaro v. Singularity Future Technology Ltd.) for an aggregate cash payment of $5,800,000. This includes $2,000,000 already in escrow, with $1,500,000 due within 15 days and $2,300,000 due within 60 days. Additionally, at its June 30, 2026 annual meeting, shareholders approved a new 2026 Incentive Plan, an increase in authorized common shares from 50 million to 50 billion, and granted the Board discretionary authority to execute a reverse stock split at a ratio of 1-for-5, 1-for-10, or 1-for-14. The company operates in the technology industry.